Question: Specific Identification Method SE2. Assume the following data with regard to inventory for Vegan Company: Aug. 1 Inventory 40 units @ $10 per unit $

Specific Identification Method SE2. Assume the following data with regard to inventory for Vegan Company: Aug. 1 Inventory 40 units @ $10 per unit $ 400 8 Purchase 50 units @ $11 per unit 550 22 Purchase 35 units @ $12 per unit 420 Goods available for sale 125 units $1,370 Aug. 15 Sale 45 units 28 Sale 25 units Inventory, Aug. 31 55 units Assuming that the inventory consists of 30 units from the August 8 purchase and 25 units from the purchase of August 22, calculate the cost of ending inventory and cost of goods sold. Average-Cost Method: Periodic Inventory System SE3. Using the data in SE2, calculate the cost of ending inventory and cost of goods sold according to the average-cost method under the periodic inventory system. (Round final answer to the nearest dollar.) FIFO Method: Periodic Inventory System SE4. Using the data in SE2, calculate the cost of ending inventory and cost of goods sold according to the FIFO method under the periodic inventory system. LIFO Method: Periodic Inventory System

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